Focus on Japan Debt

TOKYO () -- Russia promised Tuesday to work toward a settlement of $1.1 billion in trade debts to Japan to clear the way for expanded trade and economic cooperation.

The two countries also agreed to resume talks on Japanese government credits for Russian imports of $700 million worth of equipment to be used for increasing oil production.

The agreements were contained in a joint press statement issued after Russian First Deputy Prime Minister Oleg Soskovets ended a series of meetings with Prime Minister Tomiichi Murayama and other Japanese leaders